Blueprint Medicines (NASDAQ:BPMC) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Blueprint Medicines (NASDAQ:BPMC) from a sell rating to a hold rating in a research report sent to investors on Friday.

Several other equities analysts have also commented on BPMC. Stifel Nicolaus boosted their price target on Blueprint Medicines from $120.00 to $130.00 and gave the stock a buy rating in a research report on Friday, April 26th. HC Wainwright raised their price target on shares of Blueprint Medicines from $125.00 to $135.00 and gave the company a buy rating in a report on Friday. JMP Securities lifted their price target on shares of Blueprint Medicines from $114.00 to $125.00 and gave the stock a market outperform rating in a research note on Friday. Needham & Company LLC reissued a buy rating and issued a $97.00 price objective on shares of Blueprint Medicines in a research report on Thursday. Finally, Barclays lifted their target price on Blueprint Medicines from $70.00 to $75.00 and gave the stock an equal weight rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Blueprint Medicines currently has an average rating of Hold and a consensus target price of $94.87.

Blueprint Medicines Stock Up 0.2 %

NASDAQ BPMC traded up $0.19 on Friday, hitting $107.19. 1,004,153 shares of the stock were exchanged, compared to its average volume of 698,730. Blueprint Medicines has a fifty-two week low of $43.89 and a fifty-two week high of $110.93. The company has a 50-day moving average price of $91.77 and a 200-day moving average price of $80.52. The company has a current ratio of 3.76, a quick ratio of 3.66 and a debt-to-equity ratio of 1.60.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings data on Thursday, February 15th. The biotechnology company reported ($1.82) EPS for the quarter, topping analysts’ consensus estimates of ($2.04) by $0.22. The company had revenue of $71.96 million for the quarter, compared to the consensus estimate of $67.34 million. Blueprint Medicines had a negative return on equity of 215.07% and a negative net margin of 102.15%. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period last year, the business posted ($2.65) EPS. As a group, equities analysts predict that Blueprint Medicines will post -5.41 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Tracey L. Mccain sold 5,194 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $90.69, for a total value of $471,043.86. Following the sale, the executive vice president now owns 60,498 shares of the company’s stock, valued at approximately $5,486,563.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Tracey L. Mccain sold 5,194 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $90.69, for a total transaction of $471,043.86. Following the completion of the sale, the executive vice president now directly owns 60,498 shares in the company, valued at $5,486,563.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Landsittel sold 5,000 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $95.00, for a total value of $475,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,492,170. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,289 shares of company stock worth $8,314,163. 3.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blueprint Medicines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BPMC. Compass Wealth Management LLC purchased a new position in Blueprint Medicines during the 4th quarter valued at about $69,000. PNC Financial Services Group Inc. increased its stake in Blueprint Medicines by 63.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 848 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 329 shares during the period. Van ECK Associates Corp lifted its position in Blueprint Medicines by 28.4% in the 4th quarter. Van ECK Associates Corp now owns 872 shares of the biotechnology company’s stock worth $80,000 after buying an additional 193 shares in the last quarter. Cutler Group LLC CA boosted its stake in shares of Blueprint Medicines by 1,685.7% during the 3rd quarter. Cutler Group LLC CA now owns 1,000 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 944 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Blueprint Medicines in the fourth quarter worth $95,000.

About Blueprint Medicines

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.